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Earnings Per Share
9 Months Ended
Sep. 30, 2021
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Basic earnings per share is calculated using the weighted average number of shares of the Company’s common stock issued and outstanding during a certain period, and is calculated by dividing net income attributable to ApolloMed by the weighted average number of shares of the Company’s common stock issued and outstanding during such period. Diluted earnings per share is calculated using the weighted average number of shares of common stock and potentially dilutive shares of common stock outstanding during the period, using the as-if converted method for secured convertible notes, preferred stock, and the treasury stock method for options and common stock warrants.
As of September 30, 2021 and December 31, 2020, APC held 10,925,702 and 12,323,164 shares of ApolloMed’s common stock, respectively, which are treated as treasury shares for accounting purposes and not included in the number of shares of common stock outstanding used to calculate earnings per share.
Below is a summary of the earnings per share computations:
Three Months Ended September 30,20212020
Earnings per share – basic
$0.77 $0.46 
Earnings per share – diluted
$0.74 $0.45 
Weighted average shares of common stock outstanding – basic
44,301,060 36,364,839 
Weighted average shares of common stock outstanding – diluted
46,273,640 37,551,740 
Nine Months Ended September 30,20212020
Earnings per share – basic$1.38 $0.77 
Earnings per share – diluted$1.33 $0.75 
Weighted average shares of common stock outstanding – basic43,608,116 36,149,692 
Weighted average shares of common stock outstanding – diluted45,339,372 37,249,967 

Below is a summary of the shares included in the diluted earnings per share computations:
Three Months Ended September 30,20212020
Weighted average shares of common stock outstanding – basic44,301,060 36,364,839 
Stock options583,639 187,843 
Warrants1,083,216 960,806 
Restricted stock awards305,725 38,252 
Weighted average shares of common stock outstanding – diluted46,273,640 37,551,740 
Nine Months Ended September 30,20212020
Weighted average shares of common stock outstanding – basic43,608,116 36,149,692 
Stock options498,296 178,445 
Warrants971,935 890,489 
Restricted stock awards261,025 31,341 
Weighted average shares of common stock outstanding – diluted45,339,372 37,249,967